Magnolia Wealth Management LLC Invests $861,000 in Equinix, Inc. (NASDAQ:EQIX)

Magnolia Wealth Management LLC purchased a new position in Equinix, Inc. (NASDAQ:EQIXGet Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,185 shares of the financial services provider’s stock, valued at approximately $861,000.

Several other institutional investors also recently added to or reduced their stakes in EQIX. International Assets Investment Management LLC bought a new position in Equinix in the 4th quarter worth about $124,000. AlphaCrest Capital Management LLC grew its stake in Equinix by 38.9% in the fourth quarter. AlphaCrest Capital Management LLC now owns 557 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 156 shares in the last quarter. Covestor Ltd purchased a new position in Equinix during the 4th quarter worth $36,000. Linscomb & Williams Inc. bought a new stake in Equinix during the 4th quarter valued at $205,000. Finally, Stonegate Investment Group LLC purchased a new stake in shares of Equinix in the 4th quarter worth $638,000. Hedge funds and other institutional investors own 93.82% of the company’s stock.

Insider Transactions at Equinix

In related news, CEO Charles J. Meyers sold 377 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $650.00, for a total value of $245,050.00. Following the sale, the chief executive officer now owns 7,439 shares in the company, valued at $4,835,350. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Equinix news, insider Brandi Galvin Morandi sold 3,356 shares of Equinix stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $710.15, for a total transaction of $2,383,263.40. Following the completion of the transaction, the insider now owns 17,284 shares in the company, valued at approximately $12,274,232.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles J. Meyers sold 377 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $650.00, for a total value of $245,050.00. Following the completion of the transaction, the chief executive officer now directly owns 7,439 shares of the company’s stock, valued at approximately $4,835,350. The disclosure for this sale can be found here. Insiders sold a total of 4,808 shares of company stock worth $3,394,370 over the last three months. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Credit Suisse Group decreased their price objective on Equinix from $718.00 to $716.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. Barclays dropped their price objective on shares of Equinix from $823.00 to $822.00 and set an “overweight” rating on the stock in a research note on Thursday, August 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Equinix from $785.00 to $750.00 in a research note on Thursday, July 28th. StockNews.com downgraded Equinix from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Oppenheimer upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $750.00 price objective for the company in a research note on Thursday, July 28th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $818.75.

Equinix Price Performance

Shares of EQIX opened at $626.68 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.04 and a quick ratio of 2.04. The company’s fifty day moving average price is $666.31 and its 200-day moving average price is $686.86. Equinix, Inc. has a 1-year low of $606.12 and a 1-year high of $873.77. The firm has a market capitalization of $57.07 billion, a PE ratio of 89.14, a price-to-earnings-growth ratio of 2.81 and a beta of 0.49.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 17th will be issued a $3.10 dividend. This represents a $12.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Tuesday, August 16th. Equinix’s dividend payout ratio is presently 176.39%.

About Equinix

(Get Rating)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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